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Consolidated Statement of Cash Flow for the Year Ended
December 31, 2024
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Notes
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Dec. 31,
2024
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Dec. 31,
2023
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Cash flow from operating activities
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Profit before income tax from continued
operations
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71,498,028
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38,560,655
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(Loss) from discontinued operations
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-
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(42,102)
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Adjustments to reconcile profits to net cash provided by
operating activities
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Fixed assets depreciation
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1,414,920
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788,209
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Impairment charge for credit losses
(Loans and advances to customers)
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4,768,107
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2,311,867
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Other provisions
release/charge
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3,363,525
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2,821,141
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Impairment release/charge for credit
losses (due from banks)
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(341)
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(47,234)
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Impairment release/charge for
credit losses (financial investments)
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(243,947)
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2,005,448
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Impairment release/charge for other
assets
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37,939
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17,620
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Exchange revaluation differences for
financial assets at fair value through OCI and AC
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(21,026,044)
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(5,442,433)
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Utilization of other
provisions
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(9,586)
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(5,850)
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Revaluation differences impairment
charge for due from banks
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2,008
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-
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Impairment of goodwill and
intangible assets
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-
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258,118
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Exchange revaluation differences of
other provisions
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4,173,699
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1,213,126
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Revaluation differences impairment
charge for Financial Assets at Amortized cost
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119,504
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607
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Impairment (Reversal of impairment)
charges of investments in associates
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-
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(9,000)
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Profits from selling property, plant
and equipment
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(2,246)
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(1,663)
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Profits/losses from selling
financial investments at fair value through OCI
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(459,337)
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(205,344)
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Revaluation differences impairment
charge for Financial Assets at Fair value through OCI
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1,329,905
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1,903
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Shares based payments
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1,005,350
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754,817
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Losses (Profits) from selling
investments in associates
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-
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(7,466)
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Bank's share in the profits / losses
of associates
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17,786
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55,983
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Operating profits before changes in working
capital
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65,989,270
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43,028,402
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Net
decrease (increase) in working capital
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Due from banks
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(111,192,809)
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18,441,280
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Financial assets at fair value
through profit or loss
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(74,394)
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-
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Derivative financial
instruments
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490,593
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755,995
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Loans and advances to banks and
customers
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(122,049,597)
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(41,467,103)
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Other assets
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(22,078,200)
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(3,968,123)
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Non current assets held for
sale
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-
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(161)
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Non current liabilities held for
sale
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524
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873
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Due to banks
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(10,423,118)
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8,961,305
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Due to customers
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295,358,479
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145,620,929
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Current income tax obligations
paid
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(5,220,965)
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(3,704,414)
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Other liabilities
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5,788,117
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4,236,973
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Net
cash generated from operating activities
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96,587,900
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171,905,956
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Net
cash generated from (used in) operating
activities
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Cash flow from investing activities
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Proceeds from sale of investments in
associates
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11,956
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4,510
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Payments for purchases of property,
equipment and branches construction
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(6,707,018)
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(1,685,846)
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Proceeds from selling property and
equipment
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2,246
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1,663
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Proceeds from redemption of
financial assets at amortized cost
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2,028,180
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6,125,452
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Payments for purchases of financial
assets at amortized cost
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(129,153,136)
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(9,290,232)
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Payments for purchases of financial
assets at fair value through OCI
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(113,445,585)
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(129,073,519)
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Proceeds from selling financial
assets at fair value through OCI
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140,381,225
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102,763,650
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Payment for investment in
subsidiaries
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-
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(1,142,840)
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Net
cash generated from (used in) investing
activities
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(106,882,132)
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(32,297,162)
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Cash flow from financing activities
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Other loans
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11,478,482
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4,504,932
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Other loans - new loans obtained in
the year
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3,835,016
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9,604,139
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Other loans - loans repaid in the
year
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(243,015)
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(5,334,093)
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Other loans - movement in foreign
exchange rate
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7,886,481
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234,886
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Dividends paid
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(2,379,819)
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(2,016,159)
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Issued debt instruments
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1,994,432
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616,742
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Cash payments for lease (principle
and interest)
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(501,724)
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(248,871)
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Capital increase
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236,570
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369,876
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Net
cash generated from (used in) financing
activities
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10,827,941
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3,226,520
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Net (decrease) increase in cash and
cash equivalent during the year
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533,709
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142,835,314
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Beginning balance of cash and cash
equivalent
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225,941,383
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83,106,069
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Cash and cash equivalent at the end of the
year
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226,475,092
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225,941,383
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Cash and cash equivalent at the end of the
year
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Cash and balances at the central
bank
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13
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136,531,020
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71,887,821
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Due from banks with maturities
of 3 months or less
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14
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203,103,430
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217,156,599
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Treasury bills and other
governmental notes with maturities of three months or
less
|
19
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1,618,665
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1,293,148
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Obligatory reserve balance with
CBE
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13
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(114,778,023)
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(64,396,185)
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Total cash and cash equivalent
|
31
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226,475,092
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225,941,383
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